Tag: AI

Navigate Gen AI Risks in Supply Chain and Procurement: Planning for Success | LinkedIn Live

LINKEDIN LIVE

Navigate Gen AI Risks in Supply Chain and Procurement: Planning for Success

View the event on LinkedIn, which was delivered live on Thursday, February 1, 2024.

Sourcing and supply chain teams are awash in data and content, making the function a prime opportunity to implement generative AI (gen AI). However, these functions also face significant ethical, privacy, and accuracy concerns. 📊

📢Watch this LinkedIn Live event to hear our experts discuss how the market, providers, and functional leaders are addressing these challenges to pave the way for innovation. This event is a follow-up to our previous LinkedIn Live discussion, The Possibilities for Generative AI in Sourcing.

During the event, we explored:

  • 🌐 The risks, challenges, and barriers to gen AI adoption and how organizations can position themselves for success
  • 🌐 How procurement leaders can navigate the ethical, privacy, and security concerns in the adoption of gen AI to drive innovation
  • 🌐 The technology providers in the gen AI space that sourcing and supply chain teams can work with

Meet the Presenters

Enterprises Aim to Move Beyond Pilots, Accelerate Consumption of AI in 2024—Everest Group, Yates Ltd.

Despite the global economic turndown, enterprises widely adopted AI in 2023, with generative AI playing a substantial role, according to a survey of CIOs conducted by Everest Group and Yates Ltd.

 

DALLAS, January 18, 2024 — If chief information officers (CIOs) have their way in 2024, expect to see more enterprises making adoption of generative artificial intelligence (gen AI) a strategic priority with an aim to move past small pilots to scaled implementations. This forecast summarizes the sentiments of more than 50 CIOs interviewed by Everest Group in collaboration with Yates Ltd. The survey also revealed that improving the velocity of existing operations is the primary motivation driving enterprise gen AI initiatives.

The interviews conducted with global CIOs between October 23, 2023, and January 24, 2024, also underscore that gen AI is more than a passing trend, having successfully penetrated early enterprise adoption thresholds. Nearly 83% of global enterprises are either actively testing their capabilities through pilot programs or have already adopted gen AI for one or more production-grade use cases.

Key Findings from the Survey:

  • Sixty-one percent (61%) of global enterprises are actively exploring and piloting gen AI and 22% have already deployed gen AI for at least one or more processes. Another 15% plan to pilot gen AI soon.
  • The three top objectives CIOs are trying to achieve through gen AI are:
    • accelerating consumption of existing digital tools
    • reducing the latency of knowledge sharing
    • shortening the product development lifecycle.
  • CIOs identifying their top three challenges to scaling gen AI initiatives most often named lack of clarity on success metrics (73%), budget/cost concerns (68%) and the fast-evolving technology landscape (64%). Additionally, 55% named data security and privacy concerns, while 41% cited talent shortage.

The full report of findings — “Capturing the Generative AI Pulse: An Exploration of the CIO Mindset” — identifies the current state of enterprise generative AI adoption and the key challenges in scaling AI initiatives. The report also showcases three waves of generative AI adoption levels for enterprises and provides guidance to help enterprises advance in their generative AI adoption journey. Download the full report.

“Unquestionably, gen AI hype dominated 2023, but our survey indicates that it is more than a passing trend,” said Abhishek Singh, partner at Everest Group. “Our research clearly documents that most organizations are in what we call ‘Wave 1’ or the pilot phase of gen AI adoption; however, in 2024 and 2025 we fully expect more organizations to advance to the ‘Wave 2’ phase of production-grade deployments.

“Although enterprise adoption of gen AI is far from its anticipated peak, enterprises continue to experiment with unique use cases in a wide variety of industries, ranging from high-tech and financial services to healthcare and retail,” continued Singh. “As more of these initiatives document measurable impact, we’ll see adoption and full-scale implementation of gen AI accelerate considerably.”

Everest Group maintains that this shift from Wave 1 to Wave 2 will demand that enterprise leaders cultivate data-driven cultures and invest in digital and data maturity. Successful transitions will also require a comprehensive approach that incorporates technological advances, organizational readiness and ethical considerations.

“Gen AI is transforming senior executives’ perspectives on efficiency, growth and competitive advantage, and will revolutionize their operational strategies,” stated Charlotte Yates, the founder and CEO of Yates Ltd. She emphasized the need for a forward-thinking blueprint in Wave 2 to effectively implement gen AI use cases: “This blueprint should address a wide range of opportunities, risks, and investments in platforms, operating models, organization design, governance, strategic partnerships and culture.”

About Yates Ltd.

Yates is an IT and business consultancy that partners with senior executives to create the strategy, blueprints, financial mechanisms and execution plans to drive and achieve transformation. Our clients gain measurable cost savings, new capabilities, and the ability to outperform their competition. Our areas of focus include enterprise networks, software, managed services, end user services and automation. Services include strategy, sourcing, program execution, change management, communications and governance. Yates Ltd. is a WBENC-certified woman-owned business.

About Everest Group

Everest Group is a leading research firm helping business leaders make confident decisions. We guide clients through today’s market challenges and strengthen their strategies by applying contextualized problem-solving to their unique situations. This drives maximized operational and financial performance and transformative experiences. Our deep expertise and tenacious research focused on technology, business processes, and engineering through the lenses of talent, sustainability, and sourcing delivers precise and action-oriented guidance. Find further details and in-depth content at www.everestgrp.com.

Everest Group Unveils Inaugural ‘Artificial Intelligence Top 50’ Recognizing Global Market-Leading AI-first Technology Providers

Collectively, these AI technology providers have raised over US$50 billion in total lifetime private funding, showcasing huge investor trust and growing importance of the technology.

 

DALLAS, November 16, 2023 — Everest Group today released the inaugural edition of the “Everest Group Artificial Intelligence Top 50™” (AI Top 50), a list of the world’s largest AI technology providers. AI technology providers are those that develop and integrate Artificial Intelligence (AI) as a central component in their products and solutions.

“As AI technology rapidly advances, it is redefining human-machine interactions and reshaping industries, if not our way of life,” said Vishal Gupta, vice president at Everest Group. “The remarkable growth in AI innovation has given rise to more than 5000 AI technology providers in the past decade alone, by our estimates. The Everest Group AI Top 50 will help enterprises identify the 50 largest, most well-funded, and relatively scaled-up AI-first companies amongst this sea of AI technology providers. The list also helps AI technology providers to compare themselves against others in the industry.”

Topping the 2023 AI Top 50 list are these 10 technology providers:

  1. Open AI
  2. Palantir
  3. Anthropic
  4. Databricks
  5. Dataiku
  6. SenseTime
  7. 4Paradigm
  8. DataRobot
  9. Gong
  10. C3 AI

 

*** Download a complimentary copy of the 2023 Everest Group AI Top 50 list and analysis ***

 

Key Highlights of the Everest Group AI Top 50 Report

The Everest Group AI Top 50 includes numerous additional research findings, including:

  • The U.S. hosts the most AI technology providers (72%); however, innovative companies are emerging globally. China follows with 12%, showcasing its rapid ascent in the global tech arena driven by its booming domestic market.
  • Almost 50% of the technology providers in this list offer applied AI solutions. Applied AI includes applications and solutions that solve real-world problems and address specific business needs of enterprises in specific industries.
  • Privately held companies (82%) dominate the Everest Group AI Top 50 distribution in comparison to public companies (18%). Collectively, the AI technology providers in this list have raised over US$50 billion in total lifetime private funding, showcasing huge investor trust and growing importance of the technology.
  • Everest Group has documented a noticeable trend of decreasing time to unicorn status for AI providers in various industries worldwide.

“While we’ve recently seen a surge of AI innovation over the past year, Dataiku has been at the forefront long before the AI hype,” said Krish Venkataraman, President of Dataiku. “Our inclusion in Everest Group’s inaugural AI Top 50 list is a testament to our AI-first approach for customers worldwide – making Everyday AI a possibility for all.”

 

About the Everest Group AI Top 50™

The Everest Group AI Top 50™ is a global list of the Top 50 AI-first providers. To qualify for the list, providers must meet three criteria:

  • AI-first: These providers develop and integrate AI as a central component in their products and solutions to a degree that without it, their offerings would be fundamentally incomplete. Providers that have AI as a feature which helps in improving their current offering, such as automation-first vendors, are excluded from this assessment.
  • Software-first: These providers develop and provide software-based AI solutions as their primary offering. The list excludes providers offering pure play hardware and service-based AI offerings.
  • B2B focus/offerings: These providers offer software products and solutions to meet the technological needs of other businesses. The list excludes providers that exclusively offer AI solutions for consumer (B2C) purposes.

Technology providers are ranked based on their overall AI revenue (40%), total funding received (30%), growth in funding during last two years (15%), and market valuation (15%).

 

About Everest Group

Everest Group is a leading research firm helping business leaders make confident decisions. We guide clients through today’s market challenges and strengthen their strategies by applying contextualized problem-solving to their unique situations. This drives maximized operational and financial performance and transformative experiences. Our deep expertise and tenacious research focused on technology, business processes, and engineering through the lenses of talent, sustainability, and sourcing delivers precise and action-oriented guidance. Find further details and in-depth content at www.everestgrp.com.

Untangling the Risks of Generative AI: Solutions to Your Safety Concerns | Webinar

ON-DEMAND WEBINAR

Untangling the Risks of Generative AI: Solutions to Your Safety Concerns

There is an increasing urgency among enterprises to explore the potential benefits of generative AI and leverage it to stay ahead of the curve. However, with all its promises, enterprises and providers must be wary of the pitfalls that can hinder its scaled adoption.

By addressing the risks and challenges head-on, enterprises can access the possibilities of generative AI, while service and technology providers can ensure their solutions are ethical, safe, and responsible.

Watch this webinar as our analysts uncover the critical risks and safety considerations surrounding generative AI. They will also explore generative AI business implications and present potential solutions. 


What questions has the webinar answered for the participants?

  • What are the key risks or safety considerations related to generative AI?
  • What are the implications of these risks for enterprises? 
  • What are the best practices or potential solutions to overcome generative AI risks?

 Who should attend?

  • Global enterprises 
  • CIOs, CTOs, CDOs, Chief AI officer (CAIO)
  • IT managers
  • Technology directors
  • Data & analytics heads
  • ITS/BPS strategy heads
  • Senior AI executives
  • Service providers
  • Technology providers
Practice Director
Vice President
Senior Analyst

From Sci-Fi to Reality: Unraveling the Risks of Superintelligence | Blog

Superintelligence promises incredible advancements and solutions to the world’s biggest challenges, yet it also presents an ominous threat to society. As the lines between innovation and catastrophe blur, understanding the risks of AI is crucial. Read on for recommendations for moving forward in this uncharted territory.

Generative Artificial Intelligence’s emergence has led enterprises, tech vendors, and entrepreneurs to explore many different use cases for this disruptive technology while regulators seek to comprehend its wide-ranging implications and ensure its responsible use. Learn how enterprises can leverage GAI in our webinar, Welcoming the AI Summer: How Generative AI is Transforming Experiences.

Concerns persist as tech visionaries warn that AI might surpass human intelligence by the end of the decade. Humans are still far from fully grasping its potential ramifications and understanding how to collaborate with the technology and effectively mitigate its risks.

In a groundbreaking announcement in July, OpenAI unveiled that it has tasked a dedicated team with creating technologies and frameworks to control AI that surpasses human intelligence. It also committed to dedicating 20% of its computing resources to address this critical issue.

While initially exciting, the prospect of superintelligence also brings numerous challenges and risks. As we venture into this uncharted territory, understanding AI’s evolution and its potential implications on society becomes essential. Let’s explore this further.

Types of AI

AI can be broadly categorized into the following three types:

  • Narrow AI

Narrow AI systems are designed to excel at specific tasks, such as language translation, playing chess, or driving autonomous vehicles. Operating within well-defined boundaries, they cannot transfer knowledge or skills to other domains. Common examples include virtual assistants like Siri and Alexa, recommendation algorithms on streaming platforms, and image recognition software.

  • General AI

General AI possesses human-like cognitive abilities and can perform various intellectual tasks across various domains. Unlike narrow AI, general AI has the potential to learn from experiences and apply knowledge to different scenarios.

  • Super AI (Superintelligence):

Super AI represents a hypothetical AI that surpasses human cognitive abilities in all domains. It holds the promise to solve complex global challenges, such as climate change and disease eradication.

Tech thinkers across the globe have raised an alarm

Amidst growing concerns about the risks of superintelligence, the departure of Geoffrey Hinton, known as “the Godfather of AI,” from Google was one of the most significant developments in the AI realm. Hinton is not alone in his concern about AI risks. More than 1,000 tech leaders and researchers have signed an open letter urging a pause in AI development to give the world a chance to adapt and understand the current developments.

These leaders emphasized that development should not be done until we are certain that the outcomes will be beneficial and when the AI risks are fully known and can be managed.

In the letter, they highlighted the following five key AI risks:

  1. Machines surpassing human intelligence: The prospect of machines becoming more intelligent than humans raises ethical questions and fears of losing control over these systems. Ensuring that superintelligence remains beneficial and aligned with human values becomes crucial
  2. Risks of “bad actors” exploiting AI chatbots: As AI technologies evolve, malicious actors can potentially exploit AI chatbots to disseminate misinformation, conduct social engineering attacks, or perpetrate scams
  3. Few-shot learning capabilities: Superintelligent AI might possess the ability to learn and adapt rapidly, presenting challenges for security and containment. Ensuring safe and controlled learning environments becomes essential
  4. Existential risk posed by AI systems: A significant concern is that superintelligent AI could have unintended consequences or make decisions that could jeopardize humanity’s existence
  5. Impact on job markets: AI’s rapid advancement, especially superintelligence, might disrupt job markets and lead to widespread unemployment in certain sectors, necessitating measures to address this societal shift

As we already have seen some risks associated with this technology materialize, cautiously approaching the advancement of its progress is necessary.

Recommendation for moving forward

To mitigate AI risks and the risk of superintelligence while promoting its development for positive societal outcomes, we recommend enterprises take the following actions:

  • Create dedicated teams to monitor the development – The government needs to appoint relevant stakeholders in regulatory positions to monitor and control these developments, particularly to protect the large population that does not understand the technology from its potential consequences
  • Limit the current development – As the letter suggested, the government should implement an immediate moratorium on developing and using certain types of AI. This pause would give everyone enough time to understand the technology and associated risks better. While Italy has used its legal architecture to temporarily ban ChatGPT, efforts like this will not have a significant impact if carried out individually
  • Define policies – Regulatory agencies should start working on developing policies that direct researchers on how to develop the technology and define key levels for alerting regulatory agencies and others
  • Promote public awareness and engagement – Promoting awareness about AI and superintelligence is crucial to facilitate informed debates and ensure the technology aligns with societal values
  • Form international collaborations – Isolated initiatives won’t help the world. Larger collaboration among governments to define regulations and share knowledge is needed

While new technologies have always brought changes to the existing norms, disrupted established industries, and transformed societal dynamics, ensuring these advancements are beneficial to a larger audience is essential.

To discuss the risks of Generative AI, its use cases, and its implications across different industries, contact Niraj Agarwal, Priya Bhalla, and Vishal Gupta.

Intelligence Just Got Real: IT Companies Hard-pivot to Generative AI | In the News

Technology services provider Infosys has announced it is entering into a framework agreement with one of its existing strategic clients to provide artificial intelligence (AI) and automation-led development.

Peter Bendor-Samuel, Chief Executive Officer (CEO) and Founder of Everest Group, shared that all technology services companies – particularly India-based ones – are aggressive about riding the AI wave. “We see a lot of AI washing, provider firms claiming they are doing a lot. However, we believe we are at the start of the wave and most enterprise firms (customers) are still getting organized. We think much of the dialogue from the service provider community is early positioning and posturing,” he adds.

Read more in Business Standard.

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